In this blog post, we explain to you the requirements to be able to use Relai. From the minimum age, to how you can send money to Relai to buy Bitcoin and in which countries we currently operate in.
We believe Bitcoin is the best way to save money. And at Relai we are raising the next generation of long-term investors by giving them a simple, user-friendly, and secure way to save Bitcoin.
However, we also have some requirements to be able to use Relai. We’ve listed all of the most common questions below. Don’t hesitate to reach out to us via support in the app, via email or on social media if you have any questions.
How old do I need to be to use the Relai app?
The minimum age to be able to use Relai is 18. Users below that age can’t use Relai.
Why do I need to verify my identity?
From November 1st on, you need to verify your identity to be able to use Relai as a service. We explained the reasoning and details behind this here: https://relai.app/blog/verify-yourself-relai/
How do I verify my identity?
Once you’ve downloaded the Relai app, you can head over to your profile in the menu and click on ‘My Wallet Level’. You’ll then be redirected to the verification page and can start your verification process.
Are there people who can’t use Relai?
Generally speaking, everyone can use Relai. However, there is a small group of people we can’t serve.
Someone in this group is a Politically Exposed Person (PEP). This could be someone working in politics, working for someone in politics or a family member of a politically exposed person.
What documents or details do I need to verify my identity?
To be able to verify yourself, you need to have the following documents ready:
- A passport or identity card
- A utility bill or bank statement to verify your address
Next to your documents, you also need the following:
- An email address
- A phone number for Multi-Factor-Authentication (MFA)
The verification process is fast and simple as we demonstrated in this video:
Is the Relai app available in the country I live in?
The Relai app is available for Android and iOS in the following countries:
Android (Google Play Store):
- Austria
- Belgium
- Czech Republic
- Denmark
- Estonia
- Finland
- France
- Germany
- Greece
- Hungary
- Italy
- Liechtenstein
- Luxembourg
- Netherlands
- Norway
- Poland
- Portugal
- San Marino
- Slovakia
- Slovenia
- Spain
- Sweden
- Switzerland
iOS (Apple App Store):
- Austria
- France
- Germany
- Italy
- Spain
- Switzerland
We are working hard on bringing our iOS app to more countries.
What are the payment options to be able to buy Bitcoin?
There are several payment options.
For users located in Switzerland, you can buy Bitcoin via bank transfer or if you use Yapeal as your bank, you’ll be able to directly login to your Yapeal account as a means of payment. Or you can use any regular bank transfer.
Credit cards, Apple Pay, and Google Pay are the alternatives if you want to use an instant payment method.
How often can I buy Bitcoin?
We have several options for you to choose from. There is always the option to do a single buy order, meaning you can create one in the app for your desired amount.
However, if you like to buy Bitcoin on a regular basis, one of our savings plan might be better suited for you. We offer the possibility to buy Bitcoin on a weekly or monthly basis.
You setup your auto-invest plan once and create a standing order with the references provided to you in the app.
How much do I pay in fees for buying and selling Bitcoin?
Our all-in-one fee includes everything from our service fee, the brokerage fee, the spread, and the network fee.
Buy bitcoin for fees as low as 0.9%
Our transparent and competitive fee structure lets you get more bitcoin in your wallet.
Here is everything you need to know:
- 0.9% fees when using an invite code (10% off the regular 1% fee)
- Zero fees on your first 100 CHF/EUR purchase each month—up to 1,200 CHF/EUR a year!
- Start buying bitcoin from just 50 CHF/EUR
By adding an invite code, you can reduce their fees from the initial 1 % to the final fee of 0.9 % for orders up to 100,000 CHF/EUR per transaction.
Credit card payments have an additional charge of 3.0 % per transaction.
Please note:
- For sending or receiving Bitcoin, we don’t charge an additional fee, but normal Bitcoin network fees will apply. Learn more about the Bitcoin network fee.
- We cover network fees when you buy bitcoin. However, depending on network congestion, the payment may be delayed until normal market conditions resume.
- When selling bitcoin, you as a user need to cover network fees given the non-custodial nature of the Relai wallet. These fees are challenging to calculate precisely due to multiple factors, so providing a fixed percentage or estimate is impossible. However, you will see the fee before confirming the order, but it varies based on transaction amounts and network congestion.
How does the referral program work?
Our referral program grants you a unique code that your friends can use to reduce their fees by 10 %. Additionally, you earn 10 % of our revenue from every buy or sell your friends make. No expiry date!
Sharing your referral code:
- Share your referral code with others.
- Your trading fees will be reduced by 10 %.
Earning rewards:
- You earn 10 % of our revenue from every buy or sell your friends make.
- There is no expiration date, so you earn forever!
Reward distribution:
- Your rewards will be transferred to your Relai wallet on the 1st of each month.
Commission structure:
- You earn a commission whenever someone uses your referral code to buy or sell Bitcoin, including weekly savings plans.
Updates to our referral program:
Minimum payout: There is a minimum payout of 10 EUR/CHF for referral earnings.
Earnings limit: We removed the time limit on our referral earnings so that you will earn referral rewards forever.
Find out more about our referral program here: https://relai.app/referral/
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